The fifth edition of the Indian Blue Book used car report for the 2021-22 financial year has brought to light several consumer insights. The report details the consumer market sentiment for used cars, the potential it carries, and key improvement areas. The new IBB Report states that by FY2026-27, India's used car market is expected to touch sales of up to eight million units and women buyers will be playing a major role in contributing to this number. The report for the previous fiscal revealed that women purchased about 15 per cent of all used cars and influenced over 77 per cent of all used car sales.
The FY2021-22 IBB Report also reveals that women buyers would rather deal with women salespeople at the dealership. The survey revealed that women buyers who interacted with female sales advisors were calmer and more confident throughout the sales process. They are reported feeling "less scared and overwhelmed" while dealing with a female sales representative, according to the report.
The IBB Report in its survey found that women buyers were more trustworthy of female sales advisors
Purchasing a car can make people nervous and is a significant decision in any buyer's life. That's why having a sales advisor who can instil confidence in the buyer about the purchase process and outcome can significantly impact their buying journey. The insight suggests there is a need to hire and place more women on the dealership sales teams, while male sales personnel are to be trained with respect to behaviours and outcomes that will be appreciated by women consumers, the report suggests.
Furthermore, the FY2021-22 IBB Report states that women advisors have a stronger chance to influence the buying decision of a female buyer on the basis of trust. While pricing plays a significant role with women buyers, they rank it lower since they feel they can get the same used car for a lesser price elsewhere, the report states. Instead, women buyers value the sales advisor's ability to listen and assist truthfully. The emotional quotient runs higher with female buyers and a successful sales advisor greatly values a customer.
However, the report outlined that three out of five respondents expressed displeasure with how they were welcomed at dealerships for used cars. The IBB Report states that this attitude needs to be reformed toward women buyers who are becoming strong decision makers and influencers individually and within the family as well.
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